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Have Landed Huge money to 2 parties on Interest - Refusing to pay now.
29-May-2023 (In Recovery Law)
Hi, I have landed money to 2 parties on 2% interest Amt per month. For the First 2 years they both were very sincere in their payments but later they both have been making false promises to pay the Interest amt . This has been happening since last 2 years . They have neither paid the interest amt since last 2 years nor the PRINCIPAL. I have the Cheques from both the parties and also the promisory notes.
They both are relatives . Not sure if I should go to the court. Even if I drag them to the court ; I am not sure if I would get my PRICIPAL + INTEREST amts back which are too huge.
Not sure how much time would the court take . Some one said if the Cheque bounces ;they may be sued under section 138 .
I am looking forward to the recovery of my PRINCIPAL + INTERES Amts from both the parties. Finally it is my Retirement Corpus and they are just fooling around with me.
I am 52 years old and now need Advice for the Recovery of my PRINCIPL + INTEREST Amts.
please do not hesitate to call
Firstly make up your mind if you want to drag them to the courts or not as they are your relatives.
Once you have that picture cleared rest will follow as in your case you can file for civil suit also for the recovery of the amounts paid by you
Helpful?
Adv. Garima Anil Mehrotra
Mumbai | 700+ Answers
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Hi, since you have the cheques you have remedies under both 138 for cheque bounce as well as recovery under the civil code, once the cheques bounce, you have recovery up to double the cheque amount plus interest can be requested
Helpful?
Adv. Jash J. Dalia
Mumbai | 50+ Answers
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Okay Sir, You should have filed a Cheque Bouncing Case by serving them with a Legal Notice under Sec 138 of the Negotiable Instruments Act. You should have done it within 30 Days as and when your Cheque had been bounced. If you had not received a positive reply, you should have pursued with filing of Cheque Bouncing Case.
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Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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you have two options in this case
one you can bounce the security cheque and file 138 matter against them and other u can go for summary suit for recovery of dues
as you said you are holding promissory note and cheque that will be enough evidence which will help you in court.
Helpful?
Adv. Anandprakash Pandey
Mumbai | 25+ Answers
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